Piaggio Group, Asian development passes through Vietnam

The internationalization of Piaggio Group marks an important milestone with the management's decision to double the Group's Vietnamese plant, which will go from 26.000 to approximately 50.000 square meters. The new production site, located in Vinh Phuc province near Hanoi, was inaugurated by Roberto Colaninno, president and CEO of the Piaggio Group. On the occasion Colaninno explained how this operation is part of a broader strategy of the Group aimed at expanding industrial and commercial activities throughout the area, with the objective set to 1 billion euro of turnover on the Asian markets to be achieved within the next four years.

The first manufacturing center will also be created at the factory in Vietnam Research and development for the two-wheeler sector on the Asian continent, as well as a production capacity of the Piaggio Group which will be tripled to respond to the strong and growing market demand that characterizes the countries of South-East Asia.

During the inauguration ceremony, the CEO of the Piaggio Group, Colaninno said: “Today is an event of considerable importance for our Group, which lays the foundations for becoming one of the largest Italian industrial presences in the entire Asian region . Building on the extraordinary success of our initial investment in Vietnam, today we enter the second phase of our expansion strategy. The strong increase in industrial settlement in Vietnam responds to our strategic plans, which identify Asia as the main key to the Piaggio Group's development in the coming years. In recent years we have witnessed strong growth in demand for two-wheeled vehicles in Asia, particularly in Vietnam, South East Asia and India. I am convinced that this demand will continue to grow at a rapid pace in the coming years, thanks to the rapid urbanization of the main Asian countries and the expansion of consumer purchasing power. The Piaggio group is ready to reap the benefits of this growth."